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Souqalmal, Arabic for money market, was launched officially in May 2012 by founder Ambareen Musa with the comparison of credit cards, personal loans, mortgages, bank accounts and car loans in three countries namely UAE, Kuwait and Saudi Arabia. The site was then refined to include both Arabic and English. In October 2012, Souqalmal expanded into insurance and telecoms to include comparison of car, health and content insurance in addition to mobile phone plans and broadband plans. In January 2013, Souqalmal ventured into the education system through the comparison of schools and nurseries. In November 2013, Souqalmal launched an Islamic window which allows users to only compare Islamic banking products without having to navigate through both conventional and Islamic products together.
Ambareen Musa is the CEO and founder of Souqalmal.com. Before founding Souqalmal.com in 2012, Musa set up the consulting arm of MasterCard Middle East and Africa. Previously Musa held had various roles including marketing, financial literacy, customer advocacy and e- commerce for GE’s financial arm, GE Money. She led the first online financial literacy initiative in the U.K., Moneybasics.co.uk., later relocating to the Middle East in 2008 where she consulted for Bain & Company Middle East, focusing on financial services projects such as growth strategies for banks in the region. She received her MBA from INSEAD and Bachelor of Business in Information Systems from RMIT University.
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